San Francisco-based data and AI company, Databricks, has raised more than $7 billion in new funding, combining around $5 billion in equity financing at a $134 billion valuation with about $2 billion in new debt capacity.
The funding round attracted significant interest from new and existing investors. JPMorgan Chase expanded its support through its Security and Resiliency Initiative.
Other investors included Goldman Sachs, Microsoft, Morgan Stanley, Neuberger Berman, the Qatar Investment Authority, Glade Brook Capital, and some UBS-affiliated funds. JPMorgan led the debt facilities, with help from Barclays, Citi, Goldman Sachs, and Morgan Stanley.
“We’re seeing overwhelming investor interest in our next chapter as we go after two new markets,” says Ali Ghodsi, co-founder and CEO of Databricks. “With this new capital, we’ll double down on Lakebase so developers can create operational databases built for AI agents. At the same time, we’re investing in Genie to let every employee chat with their data, driving accurate and actionable insights.”
The US company said the new funding will be used to accelerate work on Lakebase, its serverless Postgres database designed for AI agents, and Genie, its conversational AI tool that enables employees to interact with company data using natural language.
Beyond product development, Databricks said the funds will also support AI research, strategic acquisitions, and employee liquidity, as the company continues to build its position as a major player in enterprise data and AI.
65% YoY growth
Founded in 2013 by Ali Ghodsi and a team from UC Berkeley, Databricks has become the backbone of modern data infrastructure. Its unified analytics platform integrates storage, compute, AI tooling, and collaboration into a single environment used by thousands of global enterprises.
The company helped popularise the “lakehouse” architecture, transforming how organisations manage data and deploy machine learning at scale. Its acquisitions and product expansions continue to push it deeper into the AI engineering stack.
The fresh capital comes as the company’s business continues to scale rapidly. Databricks has crossed a $5.4 billion revenue run rate, posting over 65% year-on-year growth in the fourth quarter.
The company also reported positive free cash flow over the past 12 months, alongside growing demand for its AI products that are now generating $1.4 billion in annualised revenue, while customer spending continues to rise.
Databricks has more than 800 customers spending over $1 million annually, and over 70 customers spending more than $10 million each year.
“Databricks is a generational company that has become a backbone for enterprise data and AI, helping organisations across critical sectors seize opportunities and overcome challenges,” said Todd Combs, Head of the Strategic Investment Group for JPMorganChase’s Security and Resiliency Initiative. “This initial investment reflects the strength of Databricks’ secure platform and continues to support their innovative, production‑scale applications that serve customers around the world.”
